Friday, December 13, 2013
Cultus Lake Budget Passes Muster
BC Hyrdo rate increase wolfs down projected surplus
Released by Christine Woodward, CLPB/Voice file photo Sacha Peter
n December 11, 2013 the Cultus Lake Park Board adopted Bylaw 2014-01, the 2014 Budget and 5-Year Financial Plan.
The budget estimates $4.15 million in revenues for 2014. After operating and capital expenditures and reserve allocations, a mild surplus of $11,600 is projected. As a budgetary safety measure, the projected revenues do not depend on any proceeds from lease lot sales, although some are anticipated during the year.
The surplus amount was recently reduced by $9,000 due to the BC Hydro rate increases announced by the provincial government on November 26, 2013. The BC Hydro expense will increase an additional $10,000 in the year 2015. These amounts are already incorporated into the adopted budget and 5-year plan.
"I am pleased to see after difficult decisions were made that we have adopted our 5th consecutive balanced budget. Financial sustainability is vitally important to ensuring that we are able to maintain our high-quality operations and services to the public," said Park Board Chair Chairman Sacha Peter in a release on Friday.
Peter continued, "Over the past five years we have built our financial reserves in a manner that enables us to weather adverse financial events, such as the recent BC Hydro increase. This is a testament to our staff and Board that have instilled a budgetary culture of living within our means, and saving money for rainy days."
For more information, visit www.cultuslake.bc.ca
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